Hillsdale Investment Management Inc. grew its holdings in Paylocity Holding Corp (NASDAQ:PCTY) by 4.9% in the 2nd quarter, Holdings Channel reports. The fund owned 32,000 shares of the software maker’s stock after purchasing an additional 1,500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Paylocity were worth $3,002,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Paylocity by 1.6% in the first quarter. Nordea Investment Management AB now owns 61,542 shares of the software maker’s stock worth $5,489,000 after acquiring an additional 954 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Paylocity during the first quarter worth about $61,000. Marshall Wace North America L.P. boosted its position in shares of Paylocity by 35.6% during the first quarter. Marshall Wace North America L.P. now owns 64,456 shares of the software maker’s stock worth $5,749,000 after buying an additional 16,908 shares during the period. Broadleaf Partners LLC boosted its position in shares of Paylocity by 26.5% during the second quarter. Broadleaf Partners LLC now owns 38,275 shares of the software maker’s stock worth $3,591,000 after buying an additional 8,023 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Paylocity by 1.1% during the first quarter. Conestoga Capital Advisors LLC now owns 588,637 shares of the software maker’s stock worth $52,501,000 after buying an additional 6,305 shares during the period. Institutional investors own 64.43% of the company’s stock.
In related news, COO Michael R. Haske sold 50,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $91.64, for a total transaction of $4,582,000.00. Following the completion of the transaction, the chief operating officer now directly owns 868,334 shares of the company’s stock, valued at $79,574,127.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Edward W. Gaty sold 7,768 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $97.54, for a total value of $757,690.72. Following the transaction, the senior vice president now directly owns 126,392 shares of the company’s stock, valued at $12,328,275.68. The disclosure for this sale can be found here. Insiders have sold 268,005 shares of company stock valued at $26,555,756 over the last three months. Insiders own 41.20% of the company’s stock.
NASDAQ PCTY traded up $4.80 during trading hours on Friday, hitting $104.17. 432,000 shares of the company traded hands, compared to its average volume of 377,353. The business’s 50-day moving average is $102.40 and its 200-day moving average is $93.70. Paylocity Holding Corp has a twelve month low of $53.46 and a twelve month high of $111.61. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 96.45, a P/E/G ratio of 4.57 and a beta of 1.69.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.07 by $0.27. Paylocity had a return on equity of 18.19% and a net margin of 11.57%. The firm had revenue of $120.37 million during the quarter, compared to analysts’ expectations of $117.51 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, research analysts forecast that Paylocity Holding Corp will post 1.06 EPS for the current fiscal year.
PCTY has been the subject of several recent research reports. Raymond James upped their price objective on Paylocity from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. KeyCorp upped their price objective on Paylocity from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. BidaskClub cut Paylocity from a “strong-buy” rating to a “buy” rating in a research report on Thursday. SunTrust Banks upped their price objective on Paylocity from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald initiated coverage on Paylocity in a research report on Tuesday, June 18th. They set an “overweight” rating for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $103.58.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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